2022-10-05 21:15:36
Robinhood Investors Buy New Sports Betting ETF In Big Numbers – Review Poker

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Robinhood Investors Buy New Sports Betting ETF In Big Numbers

Last week, Roundhill Investments launched its second ETF, the Roundhill Sports Betting & iGaming ETF (BETZ).

It’s designed to invest in companies the operate in-person and/or online sports books, operate online/internet gambling platforms or provide infrastructure or technology to such companies.

Its launch timing is a little ironic given the lack of live sports going on right now, but there’s little doubt that the sports gambling industry is huge. Add in the fast growing online gaming and eSports industries and ETF issuers have a huge market opportunity.

As of today, roughly 1/4 of the fund is invested in the technology segment, about 40% in sportsbooks and the remainder mostly in casinos and iGaming.

There’s quite a bit of global diversification here. It’s not surprising to see U.S.-based Draftkings as the top holding, but there’s only one other U.S. Company in the top 10.Robinhood Investors Jump In

Investors on Robinhood have been famous for being trend followers.

They were all over oil funds, including the United States Oil ETF (USO) and the ProShares Ultra Bloomberg Crude Oil Fund (UCO), when prices were crashing and then soaring. They’ve been adding to positions in airlines, particularly the U.S. Global Jets ETF (JETS), all throughout 2020. Both bets have been paying off handsomely post-bear market low.

And now they’re betting on betting!

BETZ is only a few days old, but Robinhood shareholders have quickly taken notice.

Nearly 12,000 Robinhood accounts have added BETZ to their portfolios already. Given its first to arrive advantage (a few eSports and gaming ETFs are already in business, but this is the first to focus heavily on sportsbooks as well), it’s a good bet that we could see this fund gain some traction.

It launched at around $1.5 million, but this buying interest will certainly increase that number in a hurry.

Too early to say if this is a winning bet, but Robinhood account holders have a decent track record lately.More ETF Research

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Top 5 Dividend ETFs That Are Perfect For Retirement

5 ETFs That Have Gained 30% So Far In 2020

Robinhood Investors Losing Interest In USO

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